Core Viewpoint - The article discusses the recognition of idle land by the Guangzhou Planning and Natural Resources Bureau, specifically related to Evergrande's electric vehicle project, highlighting the challenges faced by the company in its automotive ambitions and the implications of land being deemed idle due to the company's financial issues [1][3]. Group 1: Idle Land Recognition - The Guangzhou Planning and Natural Resources Bureau has issued a recognition of idle land for a plot registered under Evergrande Hengchi New Energy Vehicle Technology (Guangdong) Co., Ltd., with an area of 437,441 square meters designated for industrial use [1]. - The land has been classified as idle since June 9, 2021, due to reasons attributed to the company itself, and it may be reclaimed by the government if not developed within two years [1]. Group 2: Project Background - The project, known as "Evergrande Auto City," began in 2019 as part of Evergrande's strategy to enter the electric vehicle industry, with plans to achieve production capacity of 500,000 to 1 million vehicles within three years [2]. - Evergrande acquired the land in Nansha for 847 million yuan and announced a total investment of 160 billion yuan for the automotive project, which includes the construction of three major bases [2]. Group 3: Financial Challenges - The project has faced significant delays and challenges due to Evergrande's financial difficulties, leading to the land being recognized as idle since mid-2021 [3]. - Evergrande has attempted to attract investment from Middle Eastern investors, but these plans have not materialized, and the company continues to struggle with liquidity issues [3]. - As of June 30, the company is still seeking investments and attempting to sell assets to improve its financial situation, while facing uncertainty regarding the publication of its 2024 financial results due to insufficient funds [3].
闲置4年！恒大汽车近44万平方米土地被收回